Energy
UK government pledges energy review to cut ‘unacceptable’ prices
* Government to review competition in energy sector
* Cameron says he will cut back green regulations
* Rising energy prices dominate political debate
* Labour says Cameron is panicking over high prices
LONDON – British Prime Minister David Cameron sought to regain the initiative in a political row over soaring energy prices on Wednesday, promising to try to improve competition in the sector and to cut green taxes that have helped inflate prices.
Energy costs have become a high-profile political issue in Britain after the opposition Labour Party promised to freeze bills for 20 months if it won the next election in 2015 and several energy firms unveiled sharp price increases.
How much Britons pay to heat their homes has also played into a wider debate about the cost of living which has risen as inflation and price rises from everything from utility bills to train tickets have outstripped stagnant wages.
“We need to roll back some of the green regulations and charges,” Cameron told parliament during an emotionally-charged debate. “We will be having a proper competition test carried out over the next year to get to the bottom of whether this market can be more competitive.”
Even though the overall economy is improving, Labour, who are just ahead in most opinion polls, have said many people will be faced with a choice between “eating and heating”, accusing Cameron’s ruling Conservatives of being out of touch.
Cameron on Wednesday described the high cost of energy bills as “unacceptable”, but said Labour’s plans to freeze prizes were an unworkable “con”. He too was prepared to intervene in the sector, he added, but in a way that was practical.
Energy supplier RWE npower raised electricity and gas charges by an average of 10.4 percent on Monday. That followed Centrica’s average 9.2 percent rise and an 8.2 percent increase by SSE. Centrica’s shares fell 1.2 percent after Cameron spoke.
The other three members of the “Big Six” who control 99 percent of the British retail energy market are Scottish Power, a unit of Spain’s Iberdrola, EDF Energy and E.ON.
The price rises stirred a debate about the profits made by the six firms and whether consumers are getting a fair deal.
COALITION RIFT?
Labour leader Ed Miliband seized the initiative on energy prices last month with an attack on a market he described as broken with a pledge to freeze bills.
Cameron dismissed the idea as unworkable but conceded that Miliband had “struck a chord” at a time of squeezed wages and rising household bills.
He came under further pressure on the issue on Tuesday when former Conservative prime minister John Major suggested Britain should tax energy firms’ “excess profits”.
Labour energy spokeswoman Caroline Flint said Cameron was “panicking over his failure to address soaring energy bills”.
Any cuts to environmental regulations are likely to anger Cameron’s coalition partners, the Liberal Democrats, a party keen to promote its record on green and social issues.
“(We) will not allow the Conservatives to undermine our commitment to the environment, hurt the fuel poor, or destroy our renewable energy industry,” said a Liberal Democrat source.
Environmental taxes and social charges contribute nearly 10 percent to domestic energy bills, which average more than 1,200 pounds ($1,900) a year for each household.
The competition review will start in the coming weeks and will look at “prices, profits and barriers to new entrants” to the sector and will rule nothing out when it comes to making it more competitive, Cameron’s spokesman said.
More details of any environmental tax reforms will be given in the government’s fiscal policy update to parliament on Dec. 4, the spokesman added.
The energy companies blame the rises on wholesale prices, the cost of the supply network, and the government’s environmental and social programmes.
“We have long recognized there is significant political and regulatory interest in energy supply markets and a balanced audit of competition in the market should be a useful additional step towards building customers’ trust”,” an SSE spokesman said.
– REUTERS
The Shell Nigeria Exploration and Production Company Limited (SNEPCo) has completed the turnaround maintenance on the Bonga Floating Production, Storage and Offloading (FPSO) vessel, leading to resumption of production at Nigeria’s premier deepwater field on March 6, 2026.
Biztellers reports that the project was delivered 11 days ahead of schedule and without any safety incident, reinforcing SNEPCo’s longstanding commitment to operational excellence and asset integrity.
“Completing the turnaround safely and ahead of schedule is a testament to the dedication and professionalism of our Nigerian workforce and the helpful support of our partners,” SNEPCo Managing Director Ronald Adams said. “The achievement not only secures the long‑term integrity of the Bonga FPSO but also positions us strongly for the successful delivery of the Bonga North project, which will leverage the improved reliability of the FPSO.”
The exercise which began on February 1, 2026, highlights SNEPCo’s leading role in advancing deep‑water expertise in Nigeria. Of the 55 companies involved in the execution, 43 were wholly Nigerian. Additionally, eight of the 12 international service providers maintain operational bases in Nigeria, contributing to knowledge transfer and increased local investments.
More than 1,000 personnel worked offshore during the turnaround, with over 95% being Nigerians involved in maintenance, engineering, operations, inspection and construction. Thousands more supported activities from onshore locations, reflecting the depth of Nigerian capability in offshore oil and gas operations.
Adams added: “We acknowledge the support of several stakeholders towards the successful execution of the exercise, including the NNPC Upstream Investment Management Services (NUIMS), the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), the Nigerian Content Development and Monitoring Board (NCDMB) and our partners.”
Modupe Asudo
Sahara Group, a leading global energy and infrastructure conglomerate, has commissioned MT Asharami Ghana, a 40,000‑cubic‑metre Liquefied Petroleum Gas (LPG) carrier, expanding its fleet capacity, while strengthening Ghana’s clean energy supply chain and LPG distribution network.
The dual‑fuel vessel improves operational efficiency, enhances supply reliability, and supports lower‑emission LPG logistics as consumption grows across Ghana and the wider sub‑region.
Ghanaian President Mahama and Sahara Executive Directors
Speaking at the commissioning in Ulsan, South Korea, President John Dramani Mahama described the vessel as “a significant milestone in strengthening the infrastructure that underpins the global LPG supply chain,” noting that expanded shipping capacity is critical to improving supply security, reliability and efficiency for countries that rely partly on LPG imports.
He commended Sahara Group, WAGL Energy and all partners involved for their “leadership, technical expertise and strategic foresight,” adding that the project reflects “the power of partnership” in advancing safe, efficient, and responsible energy distribution.
President Mahama wished the MT Asharami Ghana safe sails, expressing confidence that the vessel would inspire further investment and collaboration across Africa’s energy value chain.
According to Wale Ajibade, Executive Director, Sahara Group, the vessel supports Ghana’s clean energy ambitions through integrated infrastructure.
“MT Asharami Ghana is more than a vessel; it is part of a deliberate strategy to strengthen LPG supply security and support Ghana’s clean energy ambitions. It secures an additional 25,000-Metric-tonne stock security for the Ghana economy, alongside the soon to be commissioned 6000-metric-tonee of 12.000-metric-tonne land storage in Tema,” he said.
With the addition of Asharami Ghana, Sahara Group’s LPG carrier fleet now comprises six delivered vessels with a combined capacity of 202,000 cubic metres. Supported by partnerships with WAGL Energy, NNPC Limited and other stakeholders, an additional 270,000 cubic metres of capacity is under construction and due for delivery by September 2028.
Temitope Shonubi, Executive Director, Sahara Group, said Asharami Ghana is part of Sahara’s integrated LPG infrastructure strategy spanning shipping, storage, and downstream distribution globally, including the development of a 12,000‑metric‑tonne land‑based LPG storage terminal in Tema, with a 6,000‑metric‑tonne first phase scheduled for completion in May 2026.
He thanked Yaa Serwaa Alifo, MD of Asharami Ghana, for her resilience and insistence to dedicate a ship of “this magnitude solely to the Ghana Market and its landlocked neighbours.”
Ghana is targeting LPG adoption of 50 per cent of households by 2030, up from about 30 per cent today. Sahara’s investments will support clean energy access for more than 35 million people, while strengthening Ghana’s role in regional LPG trade to neighbouring and landlocked West African markets.
The commissioning comes in Sahara Group’s 30th anniversary year, guided by the Sahara Beyond XXX milestone, underscoring Sahara’s focus on building an enduring enterprise that delivers responsible growth, shared prosperity and long‑term impact across its markets.
Nigeria’s crude oil production dropped to 1.31 million barrels per day in February, even as local refineries continue to grapple with inadequate domestic crude supply needed to sustain operations.
The development shows that Nigeria again failed to meet its crude oil production quota of 1.5 million barrels per day approved by the Organisation of the Petroleum Exporting Countries (OPEC), as output declined sharply in February 2026.
Data from OPEC’s latest Monthly Oil Market Report, based on direct communication from member countries, showed that Nigeria produced 1.314 million barrels per day in February, down from 1.459 mbpd recorded in January.
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The figures indicate a month-on-month decline of 146,000 barrels per day, widening the country’s shortfall from its OPEC production allocation.
Nigeria’s inability to meet its OPEC production quota is not only affecting its oil export earnings but also adversely impacting domestic refineries that are starved of feedstock for their operations.
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